FirstEnergy Corp. (FE) is Downgraded by Goldman to Sell

FirstEnergy Corp. (FE) was Downgraded by Goldman to ” Sell”. Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Jul 26, 2016.

Many Wall Street Analysts have commented on FirstEnergy Corp.. Shares were Downgraded by RBC Capital Mkts on Apr 28, 2016 to ” Sector Perform” and Lowered the Price Target to $ 33 from a previous price target of $38 .FirstEnergy Corp. was Downgraded by Jefferies to ” Hold” on Apr 28, 2016.

On the company’s financial health, FirstEnergy Corp. reported $0.80 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.75. The company had revenue of $3900.00 million for the quarter, compared to analysts expectations of $3885.12 million. During the same quarter in the previous year, the company posted $0.62 EPS.

FirstEnergy Corp. closed down -0.2 points or -0.55% at $35.98 with 29,75,943 shares getting traded on Wednesday. Post opening the session at $36.18, the shares hit an intraday low of $35.95 and an intraday high of $36.25 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Investors should note that on Jul 19, 2016, FirstEnergy Corp. announced a cash dividend of $0.3600. The company’s management has announced Aug 3, 2016 as the ex-dividend date and fixed the record date on Aug 5, 2016. The payable date has been fixed on Sep 1, 2016.

In a different news, on Mar 16, 2016, Steven E Strah (Sr VP & President FE Utilities) purchased 560 shares at $35.59 per share price. According to the SEC, on May 8, 2015, Donald R Schneider (President, FE Solutions) sold 10,775 shares at $34.63 per share price. On May 4, 2015, Anthony J Alexander (Executive Chairman) sold 54,436 shares at $36.85 per share price, according to the Form-4 filing with the securities and exchange commission.

FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its 10 utility operating companies serving customers within 65000 square miles of Ohio Pennsylvania West Virginia Maryland New Jersey and New York. The Regulated Transmission segment transmits electricity through transmission facilities. The CES segment supplies electricity to end-use customers through retail and wholesale arrangements including retail sales to customers in Ohio Pennsylvania Illinois Michigan New Jersey and Maryland. The Company’s principal subsidiaries include Ohio Edison Company The Cleveland Electric Illuminating Company The Toledo Edison Company Metropolitan Edison Company Pennsylvania Electric Company FirstEnergy Service Company FirstEnergy Solutions Corp. Allegheny Energy Supply Company LLC among others.

FirstEnergy Corp.

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FirstEnergy Corp. - Is it time to Sell?

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